How to Create More Income Streams in 2018

Next week is deadline to file taxes. For most people it’s one of the few times a year they take inventory of their tax bracket, their finances and assess how much money they make and where it’s all going.

Don’t worry this isn’t a post where I tell you to stop buying coffee to save money.

Here’s a truth about our capitalistic society.

Sometimes we just need to create more streams of income.

Sometimes we want more streams of income.

But not by taking on something we hate doing. In fact, everyone has a passion or a talent they can use to boost their income and increase their life satisfaction

When I was close to turning 30 my friends and got together and shared about where we wanted to be in 5 years. I shared that I wanted to be making a living as a writer, I had no idea how I was going to do that since I was not even blogging at that point.

This year I turn 35 and I am much close to living that life I once yearned for. I spend my days creating content for clients, and for myself too. In the past year I have:

  1. Written a workbook for a non-profit, thought leader pieces for CEO's, created editorial and social media content

  2. Been published in major online publications

  3. Developed branding for new and established businesses that have missions to make the world a better place.

All these tasks involved writing!

Getting paid to put my ideas into the world and help others get their message across has been a source of income that has brought me tremendous joy and it advances me in a field that fascinates me everyday.

What are ways you can generate additional income in ways that feel natural to you?

How can you make the money you do have work for you? Create passive income? A passion project? Here are a few examples I have seen.

  • My friend loved building things and so you know what he did? He got his real estate bought a home and worked on it. He then flipped the house and moved to the Bay with his fiancee. Buying the house didn’t mean he was tethered to it forever!

  • My friend ran a preschool but loved travel so she created a small company that focuses on creating travel experiences for families. She gets to travel with her own kids in the process!

  • My dad ran a shoe selling business after his work day was over. He loved meeting people and building relationships with vendors in the process!

  • My niece started an online shop where she sells toy collectibles

  • My friend created beautiful thank you cards and jewelry dishes after her day job as an editor

  • My old co-worker and her husband were foodies with a love of southern bbq. They started a bbq pop-up shop that has been featured in numerous magazines, and even on television. All while working and raising two kids!

What I want to highlight is that these people all loved doing these things so it didn’t feel like work to them.

Just really think about your “why” when it comes to money.

Part of the reason why we all feel like we always need more money is because we are stuck in a society that demands we keep buying more while placing barriers for us to make more money to do so.

It’s why I think of my time as money now too.

If you are reading this and thinking, “Damn girl. I can’t even pay bills and you are over here talking about vacations.”

Just know that i’ve been in that situation too and in the past year starting the new business meant that I took about 50% pay cut! Then we had a wedding! Yeah, I am still on learning continuum when it comes to money too!

The important thing is to keep thinking and learning!

Betsy cardenasComment